Bitget App
Trade smarter
Reagan’s Legacy Looms Over Trade Row: Trump Slaps Canada with Steep Tariffs

Reagan’s Legacy Looms Over Trade Row: Trump Slaps Canada with Steep Tariffs

Bitget-RWA2025/10/25 22:06
By:Bitget-RWA

- Trump imposed a 10% tariff on Canadian goods, accusing Ontario of misrepresenting Reagan's tariff views in a controversial ad campaign. - Ontario paused its ad campaign to de-escalate tensions, while the White House called Canada's actions "political gamesmanship." - The dispute halted U.S.-Canada trade talks and risks worsening economic impacts, with experts warning of 5-15% sectoral cost increases. - Canada plans to diversify trade beyond the U.S. as 20% of its exports already face U.S. tariffs on stee

President Donald Trump has intensified the trade conflict with Canada by introducing an extra 10% tariff on Canadian imports, referencing an anti-tariff commercial from Ontario that featured former U.S. President Ronald Reagan. Trump made the announcement on his Truth Social account after several days of public disputes over the ad, which he accused Canada of using to distort Reagan’s position and sway an upcoming Supreme Court decision regarding his global tariff measures, according to a

. Ontario Premier Doug Ford stated on Friday that the province would suspend its advertising campaign by Monday in hopes of reducing tensions and restarting trade discussions, as reported by . The White House criticized Canada for engaging in "political theater" instead of genuine negotiations; a cited spokesperson Kush Desai, who said further discussions would be "futile" unless Canada showed greater commitment.

The Ontario commercial, which was broadcast during the opening game of the World Series between the Toronto Blue Jays and Los Angeles Dodgers, featured Reagan’s 1987 comments against tariffs to emphasize their negative effects on American businesses and workers. The campaign, costing CA$75 million (around $54 million USD), aimed to reach American viewers during major events like the World Series, according to a

. Trump, however, condemned the ad as "deceptive," arguing that it misrepresented Reagan’s actual views, which he claimed supported tariffs for national security reasons, as outlined in a .

Reagan’s Legacy Looms Over Trade Row: Trump Slaps Canada with Steep Tariffs image 0

This dispute has brought U.S.-Canada trade talks to a standstill, which had previously been making gradual progress on matters such as steel, aluminum, and energy before the ad campaign heightened hostilities, according to Cryptopolitan. Canadian Prime Minister Mark Carney stated that Canada is ready to return to negotiations "when the Americans are prepared," but also stressed the importance of diversifying trade partners beyond the U.S. in light of Trump’s tariffs. Carney, who plans to visit Asia, noted that while Canada cannot dictate U.S. trade policy, it can work on expanding into other markets, as reported by Cryptopolitan.

Economists caution that these tariffs could worsen existing pressures on critical industries. The Peterson Institute for International Economics pointed out that similar trade disputes have historically raised costs by as much as 15% for affected sectors, while Brookings Institution experts forecast a 5-10% drop in cross-border trade if talks break down further, according to Coinotag. Canadian authorities indicated that 20% of their exports are already subject to U.S. tariffs on steel, aluminum, and lumber, prompting initiatives to lessen dependence on the U.S. market, Coinotag reported.

The timing of the ad campaign—airing during the World Series—greatly increased its exposure, with the first game attracting over 12 million viewers on Fox. Ford defended the campaign, saying its purpose was to encourage discussion about economic policy, and that it effectively reached "top-level U.S. audiences," as noted by USA Today. However, the White House denounced the ads as a distraction from meaningful negotiations, and Trump characterized the dispute as a matter of principle: "Due to their significant misrepresentation of facts and this unfriendly act, I am raising the tariff on Canada by 10% above the current rate," he stated, according to Bloomberg.

As the situation develops, the world is closely monitoring the outcome, given the importance of U.S.-Canada trade ties. Ontario’s decision to halt the ads signals a shift toward diplomatic efforts, but Trump’s firm approach suggests more conflict may be ahead. With the Supreme Court expected to decide on the legality of Trump’s tariffs in November, the ruling could have a major impact on the future of North American trade, USA Today observed.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

You may also like

Aster News Today: Crypto Whale Achieves 16.6x Returns, Reflecting Capital Efficiency Strategies Seen in Traditional Finance

- APX whale secured 16.6x profits by converting tokens to ASTER and depositing on Binance, exploiting crypto market volatility. - Strategy mirrors traditional finance trends like Procter & Gamble's $2B restructuring costs and Ameris Bancorp's $200M share buyback expansion. - Market risks highlighted by Bapcor's NZ impairments and Southwest Airlines' 7.5% post-earnings stock drop underscore volatility challenges. - Whale's approach reflects capital efficiency principles seen in First Horizon's 17% stock ups

Bitget-RWA2025/10/28 07:46
Aster News Today: Crypto Whale Achieves 16.6x Returns, Reflecting Capital Efficiency Strategies Seen in Traditional Finance

Solana News Update: Organized Expansion Challenges Predictions as MoonBull's Presale Reaches $450K with 27.4% Incremental Growth

- MoonBull ($MOBU) presale hits $450K with 1,500+ holders in Stage 5, using 27.4% staged price increases. - Mobunomics framework allocates 5% of transactions to liquidity, reflections, and burns to stabilize value and reward holders. - Early investors gained 163% growth since launch, with $10K in Stage 5 yielding ~151M tokens for potential 900x listing price. - Structured 23-stage rollout contrasts speculative presales, aligning with altcoin ETF growth and institutional crypto adoption trends.

Bitget-RWA2025/10/28 07:46
Solana News Update: Organized Expansion Challenges Predictions as MoonBull's Presale Reaches $450K with 27.4% Incremental Growth

Solana News Today: MoonBull's Mobunomics: DeFi's Self-Sustaining Engine Sparks with 9,256% ROI Opportunity

- MoonBull ($MOBU) presale hits Stage 5 with 27.4% price surge to $0.00006584, raising $450K+ and attracting 1,500+ holders. - Mobunomics framework allocates 5% of transactions to liquidity/holder rewards/burns, supporting a 23-stage roadmap targeting $0.00616 (9,256% ROI potential). - Solana (SOL) rebounds to $195 near $200 resistance, while Ethereum and Litecoin maintain stability amid $400M+ inflows into REX-Osprey Solana ETF. - Analysts highlight MoonBull's community governance model and 95% APY stakin

Bitget-RWA2025/10/28 07:46
Solana News Today: MoonBull's Mobunomics: DeFi's Self-Sustaining Engine Sparks with 9,256% ROI Opportunity

Ethereum Updates: Ethereum Experiences Sharp Rise While Large Holder Sell-Offs Hint at Upcoming Market Fluctuations

- Ethereum (ETH) surged past $4,200 on October 27, driven by a 7.2% weekly gain and a 4% rise in global crypto market cap to $3.91 trillion. - Whale 0xb927 sold 5,000 ETH ($21M) amid consistent sales, while an unknown entity deposited $50M in ETH to Coinbase Institutional, signaling potential selloff risks. - A Hyperliquid long expanded its ETH position to $167M (40,000 ETH) and maintained a $170M Bitcoin stake, reflecting bullish institutional confidence. - 31,100 ETH flowed into centralized exchanges (25

Bitget-RWA2025/10/28 07:46
Ethereum Updates: Ethereum Experiences Sharp Rise While Large Holder Sell-Offs Hint at Upcoming Market Fluctuations